World Rugby has joined the growing list of international sports rights holders to appoint the recently launched platform Turnstile to value its sponsorship portfolio for existing and potential commercial partners for the upcoming men's and women's World Cups.
Turnstile, launched by Gemba Group, will work with the World Rugby commercial team to forecast valuations for the 2021 Women’s Rugby World Cup and 2023 Rugby World Cup.
Rugby becomes the first global code, outside of Formula One racing, to appoint Turnstile to manage it partnerships since the platform launched earlier this year.
The platform takes a new approach to valuing sponsorships by going beyond exposure measurement. It also incorporates the intellectual property value of sponsorship assets as well as the value of benefits like tickets, hospitality and inventory at market rates.
World Rugby has adopted the platform as part of its new strategy to grow as a global proposition, stating the organisation requires a methodology that captures the "full value" of the Rugby World Cup.
"While the global reach of the events is massive, we believe that the value of the Rugby World Cup is far more than just exposure," World Rugby chief commercial officer Tom Hill says.
"The unique values of rugby – integrity, respect, solidarity, passion, discipline – resonate globally and we liked the Turnstile approach to capturing our intellectual property value.”
The organisation will also use the Turnstile platform to generate further value for the women's game at an international level.
Turnstile CEO Rob Mills says the decision by World Rugby was reflective of the industry’s desire to build a more "robust approach" to the pricing of sport and entertainment properties.
The aim of Turnstile is to drive a consistent approach to how sponsorship is valued as well as being able to benchmark a code’s intellectual property against other sports.
Gemba previously told AdNews the platform evolved from 10 years of consulting experience, where he helped buyers and sellers deconstruct and understand the value of “hundreds” of sponsorship deals.
This approach focuses on three core components:
- Benefits: Tickets, hospitality, media assets and other inventory with proven market rates.
- Exposure: Using a proprietary methodology to assess the effectiveness of logo exposure, Turnstile captures logo exposures and then outputs values that reflect actual market rates of the sponsorship industry.
- Intellectual Property: A proprietary algorithm that calculates the fan bases of sponsorship properties.
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